9th edition of Global Innovation Index 2016 released

Aug 20, 2016 10:06 IST

The 9th edition Global Innovation Index (GII) 2016 was released on 15 August 2016 jointly by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO). The GII 2016 was based on the theme of Winning with Global Innovation.

India has ranked 66th in the 2016 Global Innovation Index. In this edition, India has jumped up by 15 spots from 81st position in 2015 GII.

The report explores the rising share of innovation carried out via globalized innovation networks. The report also found that gains from global innovation can be shared more widely. The report also concludes that there is ample scope to expand global corporate and public R&D cooperation to foster future economic growth.

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Top 5 countries in the ranking

Rank

Countries

1

Switzerland

2

Sweden

3

United Kingdom

4

United States of America

5

Finland


Highlights of the GII 2016

• China joins the ranks of the world’s 25 most-innovative economies. China’s top-25 entry marks the first time a middle-income country has joined the highly developed economies.

Switzerland, Sweden, the United Kingdom, the United States of America, Finland and Singapore lead the 2016 rankings in the Global Innovation Index.

GII 2016 data indicate that global R&D grew by only 4% in 2014.

Among the GII 2016 leaders, Japan, the U.S., the UK, and Germany stand out in innovation quality, a top-level indicator that looks at the calibre of universities, number of scientific publications and international patent filings.

At the national level, the report says that innovation policies should more explicitly favour international collaboration and the diffusion of knowledge across borders.

In Northern America, the U.S. (4th) continues to be one of the world’s most-innovative nations.

Canada (15th overall in the GII) has top scores in its regulatory environment, the ease of starting a business, the sophistication of its financial market, including venture capital, the quality of its universities and scientific publications, as well as in online creativity.

In Sub-Saharan Africa, Mauritius takes the top spot among all economies in the region (53rd).

In Latin America and the Caribbean, Chile takes the top spot among all economies in the region (44th) driven by good scores on the indicators for institutions, infrastructure and business sophistication.

In South East Asia, East Asia, and Oceania region, Singapore (6th), the Republic of Korea (11th), Hong Kong (China) (14th), Japan (16th), and New Zealand (17th) lead the rankings in this region.

India in the report

India is the top-ranked economy in Central and Southern Asia, showing particular strengths in tertiary education and R&D.

India also over-performs in innovation relative to its GDP.

It ranks second on innovation quality amongst middle-income economies, overtaking Brazil.

Relative weaknesses exist in the indicators for business environment, education expenditures, new business creations and the creative goods and services production.

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